v3.26.1
Goodwill and Other Intangible Assets (Tables)
 12 Months Ended
Dec. 31, 2025
Goodwill and Intangible Assets Disclosure [Abstract]  
Changes in Carrying Amount of Goodwill

The following table summarizes the changes in the carrying amount of goodwill (in millions):

 

 

Americas

 

 

EMEA

 

 

Asia Pacific

 

 

Total

 

Balance at January 1, 2024

 

 

 

 

 

 

 

 

 

 

 

 

Goodwill

 

$

8,273.5

 

 

$

1,326.8

 

 

$

552.7

 

 

$

10,153.0

 

Accumulated impairment losses

 

 

(7.7

)

 

 

(1,326.8

)

 

 

-

 

 

 

(1,334.5

)

 

 

8,265.8

 

 

 

-

 

 

 

552.7

 

 

 

8,818.5

 

2024 acquisitions

 

 

156.5

 

 

 

44.1

 

 

 

-

 

 

 

200.6

 

Currency translation

 

 

(53.2

)

 

 

(0.4

)

 

 

(14.4

)

 

 

(68.0

)

Balance at December 31, 2024

 

 

 

 

 

 

 

 

 

 

 

 

Goodwill

 

 

8,376.8

 

 

 

1,370.5

 

 

 

538.3

 

 

 

10,285.6

 

Accumulated impairment losses

 

 

(7.7

)

 

 

(1,326.8

)

 

 

-

 

 

 

(1,334.5

)

 

 

8,369.1

 

 

 

43.7

 

 

 

538.3

 

 

 

8,951.1

 

Purchase accounting adjustments related to 2024 acquisitions

 

 

1.7

 

 

 

0.6

 

 

 

-

 

 

 

2.3

 

Paragon 28 acquisition

 

 

513.3

 

 

 

32.6

 

 

 

74.2

 

 

 

620.1

 

Monogram acquisition

 

 

263.0

 

 

 

-

 

 

 

-

 

 

 

263.0

 

Currency translation

 

 

101.6

 

 

 

1.7

 

 

 

7.3

 

 

 

110.6

 

Balance at December 31, 2025

 

 

 

 

 

 

 

 

 

 

 

 

Goodwill

 

 

9,256.4

 

 

 

1,405.4

 

 

 

619.8

 

 

 

11,281.6

 

Accumulated impairment losses

 

 

(7.7

)

 

 

(1,326.8

)

 

 

-

 

 

 

(1,334.5

)

 

$

9,248.7

 

 

$

78.6

 

 

$

619.8

 

 

$

9,947.1

 
Components of Identifiable Intangible Assets

The components of identifiable intangible assets were as follows (in millions):

 

 

Technology

 

 

Intellectual
Property
Rights

 

 

Trademarks
and Trade
Names

 

 

Customer
Relationships

 

 

IPR&D

 

 

Other

 

 

Total

 

As of December 31, 2025:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Intangible assets subject to amortization:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Gross carrying amount

 

$

3,833.1

 

 

$

478.0

 

 

$

571.1

 

 

$

5,290.0

 

 

$

-

 

 

$

206.7

 

 

$

10,378.9

 

Accumulated amortization

 

 

(2,322.5

)

 

 

(383.2

)

 

 

(349.6

)

 

 

(3,110.7

)

 

 

-

 

 

 

(171.0

)

 

 

(6,337.0

)

Intangible assets not subject to
   amortization:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Gross carrying amount

 

 

-

 

 

 

-

 

 

 

459.3

 

 

 

-

 

 

 

216.1

 

 

 

-

 

 

 

675.4

 

Total identifiable intangible assets

 

$

1,510.6

 

 

$

94.8

 

 

$

680.8

 

 

$

2,179.3

 

 

$

216.1

 

 

$

35.7

 

 

$

4,717.3

 

As of December 31, 2024:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Intangible assets subject to amortization:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Gross carrying amount

 

$

3,438.1

 

 

$

478.0

 

 

$

520.4

 

 

$

5,124.5

 

 

$

-

 

 

$

188.4

 

 

$

9,749.4

 

Accumulated amortization

 

 

(2,056.6

)

 

 

(346.3

)

 

 

(313.0

)

 

 

(2,761.4

)

 

 

-

 

 

 

(123.7

)

 

 

(5,601.0

)

Intangible assets not subject to
   amortization:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Gross carrying amount

 

 

-

 

 

 

-

 

 

 

450.0

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

450.0

 

Total identifiable intangible assets

 

$

1,381.5

 

 

$

131.7

 

 

$

657.4

 

 

$

2,363.1

 

 

$

-

 

 

$

64.7

 

 

$

4,598.4

 
Estimated Annual Amortization Expense Based on Intangible Assets Recognized

Estimated annual amortization expense based upon intangible assets recognized as of December 31, 2025 for the years ending December 31, 2026 through 2030 is (in millions):

For the Years Ending December 31,

 

 

 

2026

 

$

633.6

 

2027

 

 

619.8

 

2028

 

 

613.6

 

2029

 

 

564.9

 

2030

 

 

448.4